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Transparency: White House Putting Off Release Of Budget Update
This from the AP:
The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today’s bleak landscape.
The administration’s annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama’s budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.
The release of the update – usually scheduled for mid-July – has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.
Putting off the release so you can keep lying to the American people about the numbers, now that’s change I can believe in.
Video: Obama Vs. Obama On Stimulus Bill
Video: Venting Over The Obama Economy
This is how many Americans feel about what Obama and the Democrats are doing to our country. This is how we feel about $787 billion dollar “stimulus” packages that are nothing but bullshit pork.
This is how we feel about destroying the economy with “Cap and Trade” tax plans to combat something that isn’t even real.
This is how we feel about broke-ass California issuing IOU’s while at the same time paying $4 million to put the corpse of a pedophile singer on display.
(hat tip Drudge)
Video: The Economy Then And Now
Here’s how the media treated a recovering and then soaring economy under Bush and how they’re treating the economy under Obama.
(hat tip Gateway Pundit)
Chutzpah: Obama Warns Current Deficit Spending Is “Unsustainable”
You really have to admire the chutzpah that president Obama displays time and again when talking about fiscal matters.
He said the following during a town hall meeting in New Mexico:
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”
What he neglects to mention as usual is that he is the reason we keep borrowing from China and mortgaging our children’s future.
Obama loves to talk about the deficits he inherited, but his only solution to Bush’s out-of-control spending and record deficits has been even more spending and ever larger deficits.
Obama’s spending in his first 100 days in office dwarfs all of Bush’s spending for his entire two terms.
So maybe the president should take some of his own advice.
Video: Proof Democrats Blocked Bush Administration Attempts To Prevent Mortgage Crisis
Here’s proof that the Bush administration way back in 2003 was sounding the alarm about the mortgage industry. Repeated attempts to pass new legislation aimed at getting a handle on Fannie and Freddie before they imploded were blocked by Democrats. Not only did Barney Frank and the dems block any new regulations, they were angry at republicans for even suggesting a problem existed.
So the “mess” that democrats are so fond of saying they “inherited” is a mess of their own making. Barney Frank, Chris Dodd, and the rest of those lying pricks should be impeached. The corrupt media will of course never admit any of this.
(hat tip @ronlisy)
Video: John Rich Performs His New Song Inspired By The Wallstreet Bailouts
Here’s John Rich performing his new song called “Shuttin’ Detroit Down.” He was inspired to write it after watching all the bailouts and big spending on the news.
More info @ JohnRich.com
House Democrats Propose New Porky $410 Billion Dollar Spending Bill
Everything that was cut from the egregious $787 billion dollar porkulus bill last week was shoved into a brand new spending bill proposed today by house democrats. Nancy Pelosi proposed a new $410 billion dollar bill today allegedly to keep the government running until the end of the fiscal year. Of course, it’s really just $410 billion in pork that didn’t make into the stimulus bill. According to the AP, the bill contains “thousands of earmarks” which have yet to be totaled. Here we go again.
Video: Congressman Sits Down To Read “Stimulus” Bill
Angry yet?
Rove: Don’t Blame Bush For The Housing Mess
“The Architect” Karl Rove lays out the ugly truth about the housing crisis and how it came to be in his latest column for the WSJ. Don’t buy into the left-wing narrative that “Bush economic policies” are to blame for our lot in life.
To the contrary, it was Bush and the republicans who spent years trying to push through legislation that would have brought Fannie and Freddie under control. Unfortunately, the legislation was always blocked courtesy of the democrats led by Barney Frank and Chris Dodd.
Audio: O’Reilly Blasts Right Wing Radio Liars, Calls Barney Frank ‘Fat Toad’
John McCain Promises To Balance Budget In Four Years
The McCain campaign told the Politico this morning that John McCain intends to balance the budget in four years if he becomes President.
He says he’ll accomplish this by curbing wasteful spending and taking on one of the most politically dangerous issues on the planet—social security.
“In the long-term, the only way to keep the budget balanced is successful reform of the large spending pressures in Social Security, Medicare, and Medicaid,” the McCain campaign says in a policy paper to be released Monday.
“The McCain administration would reserve all savings from victory in the Iraq and Afghanistan operations in the fight against Islamic extremists for reducing the deficit. Since all their costs were financed with deficit spending, all their savings must go to deficit reduction.”
The Obama campaign had a predictably chilly response to McCain’s proposal with one Obama aide calling the plan “preposterous.”
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